Rails 4 - Object reference output when displaying value from different model

I have three models, team, player, and ownerships. Their relationships look like this:

team.rb

class Team < ActiveRecord::Base
  has_many :ownerships
  has_many :players, through: :ownerships 

  validates :name, presence: true
  validates :division, presence: true
end

player.rb:

class Player < ActiveRecord::Base
  has_one :team, through: :ownership
  has_one :ownership

  validates :name, presence: true
  validates :position, presence: true
end

ownership.rb

class Ownership < ActiveRecord::Base
  belongs_to :player
  belongs_to :team

  validates :round, :pick, :team_id, presence: true
end

Ownerships is indexed off both player_id and team_id:

add_index "ownerships", ["player_id"], name: "index_ownerships_on_player_id"
add_index "ownerships", ["team_id"], name: "index_ownerships_on_team_id"

When I update an ownership, the player(s) show up fine when I show the team(show.html.erb). But when I display the players index view, I get weird output from <%= player.team %>. The team assignments are working, but, the team names get displayed as things like

 #<Team:0x007f8f37a76f20> and #<Team:0x007f8f37a4c360>. 

I've tried <%= player.team.name %>, but that throws an undefined method error.

How can I get the team names to display correctly? And what are those values I'm seeing above?

Thank you in advance.

This the pertinent part of the players index.html.erb page:

<% @players.each do |player| %>
   <tr>
   <td></td>
    <td><%= player.name %></td>
    <td><%= player.position %></td>
    <td><%= player.team %></td>
  </tr>
  <% end %>

EDIT:

When I user <%= player.team.name %>, I get:

undefined method `name' for nil:NilClass

The index action from the players_controller.rb is basic:

def index
@players = Player.all
end

Would the way I'm selecting the players matter? I'm using a drop down menu in the ownership edit form that looks like this:

<%= form_for @ownership do |f| %>
<p>
<%= f.label :team_id %><br>
<%= @ownership.team.name %>
</p>

<p><%= f.label :player_id %><br>
<%= f.collection_select(:player_id, Player.all, :id, :name)%>
</p>
<p>
<%= f.submit %>
</p>

<% end %>